Updated on 06.02.2026|12:19 PM
Fractal Analytics Limited is poised to hit Dalal Street with its Initial Public Offering (IPO) opening on February 9, 2026 and closing on February 11 2026. You can track the details of all the upcoming and live IPOs at our IPO Calendar hub page which is updated regularly.
It is widely recognised as India's first pure-play artificial intelligence and advanced analytics unicorn.
The company specialises in helping Fortune 500 companies power every human decision in the enterprise through AI, engineering, and design.
With a price band set at ₹857 to ₹900 per share, the company aims to raise approximately ₹2,833.9 crores through a mix of fresh equity and an Offer for Sale (OFS), primarily to deleverage its balance sheet and fund future growth initiatives.
In this article, you will find Fractal Analytics IPO GMP today, price band, and a detailed review. For subscription status of this and all other IPOs check the IPO subscription status hub page and for the allotment status, you can check the IPO allotment status hub page which are updated regularly.
Briefs of Fractal Analytics IPO Details:
- Price Band: ₹857 – ₹900 per equity share
- IPO Open / Close Dates: February 9, 2026 – February 11, 2026
- Lot Size: 16 Shares
- Issue Size: ₹2,833.9 Crores
- Fresh Issue: ₹1,023.5 Crores
- Offer for Sale (OFS): ₹1,810.4 Crores
- Employee Discount: ₹85 per share
- Registrar: MUFG Intime India Private Limited
- Listing Exchange: BSE, NSE
If you want to know how to check allotment status, refunds at MUFG, check our detailed guide on MUFG Intime allotment status which has all the key information.
What Is The Fractal Analytics IPO GMP Today?
You can check the gmp of this and all other IPOs at our IPO GMP today hub page which is updated regularly.
Note: The GMP changes daily based on market demand. It is an unofficial indicator and is not regularised by SEBI, NSE, or BSE.
What Are The Important Fractal Analytics IPO Dates & Allotment Schedule?
- IPO Open Date: Monday, February 9, 2026
- IPO Close Date: Wednesday, February 11, 2026
- Basis of Allotment Date: Thursday, February 12, 2026
- Refund Initiation Date: Friday, February 13, 2026
- Credit of Shares: Friday, February 13, 2026
- Listing Date: Monday, February 16, 2026
What Are The Objectives of Fractal Analytics IPO?
The Company proposes to utilise the Net Proceeds from the Fresh Issue (approximately ₹1,023.5 Crores) towards the following specific objectives:
- Investment in Fractal Alpha (₹355.1 Crores): A significant portion of the funds is allocated to its subsidiary, Fractal Alpha, to finance Research & Development initiatives and expand Sales & Marketing activities.
- Repayment of Borrowings (₹264.9 Crores): The company intends to invest in its subsidiary, Fractal USA, to prepay or repay outstanding borrowings, thereby deleveraging the balance sheet.
- Setting up New Offices (₹121.1 Crores): Funds are earmarked for establishing new office premises in India to support operational expansion.
- Purchase of IT Hardware (₹57.1 Crores): The company will utilize funds for capital expenditure towards the purchase of laptops for its workforce.
- Inorganic Growth & General Corporate Purposes: The remaining net proceeds will be deployed for funding strategic acquisitions and meeting general corporate exigencies.
Note: The Company will not receive any proceeds from the Offer for Sale (OFS) component; these proceeds will go entirely to the Selling Shareholders.
How is The Financial Performance of Fractal Analytics?
The following table summarizes the financial performance of the company based on restated consolidated financial statements.
(Figures in ₹ Crores)
| Particulars | Period Ended 30 Sep 25 | FY Ended 31 Mar 25 | FY Ended 31 Mar 24 | FY Ended 31 Mar 23 |
Total Income | 1,594.3 | 2,816.2 | 2,241.9 | 2,043.7 |
Profit After Tax (PAT) | 70.9 | 220.6 | (54.7) | 194.4 |
EBITDA | 185.6 | 398.0 | 97.2 | 436.8 |
Total Borrowing | 274.6 | 266.2 | 250.1 | 325.6 |
Assets | 2,965.4 | 2,857.6 | 2,392.0 | 2,248.7 |
Source: RHP
Financial Analysis:
Total Income:
The company has demonstrated consistent topline growth, with revenue reaching ₹2,816.2 crores in Fiscal 2025, driven by the acquisition of new "Must Win Clients" and expansion in the US market.
Profit After Tax:
Fractal returned to profitability in Fiscal 2025 with a PAT of ₹220.6 crores, recovering from a loss in FY24, partly aided by a deferred tax credit and improved operational efficiencies.
EBITDA:
EBITDA margins have stabilised at around 11.9% for the first half of Fiscal 2026, though they remain impacted by significant employee benefit expenses, which constitute over 70% of income.
Total Borrowing:
The company carries a debt of ₹274.6 crores (as of Sept 2025), primarily residing in its US subsidiary; the IPO proceeds are specifically targeted to reduce this leverage.
Assets:
The asset base has grown to ₹2,965.4 crores, significantly comprised of goodwill and intangibles arising from strategic acquisitions like Neal Analytics and Senseforth.
What Are P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹13.36, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 67.37x at the upper end of the price band (₹900).
P/E Ratio = ₹900(Price) / ₹13.36(Earnings Per Share)
P/E Ratio ≈ 67.37x
Peer Comparison:
According to the Red Herring Prospectus (RHP), there are no listed companies in India or globally that are directly comparable to Fractal Analytics in terms of its specific "Pure-play Enterprise AI" business model.
- Context: While IT service giants like Accenture or Persistent Systems offer data services, and product companies like C3.ai offer software, Fractal occupies a unique niche combining high-end AI engineering with proprietary products. Therefore, a direct industry P/E comparison is not available.
What is the Industry Outlook for Fractal Analytics Limited?
Growth Potential:
The global market for AI and analytics is expanding rapidly, with enterprises shifting from experimental AI to industrial-scale implementation.
Market Trends:
The rise of Generative AI (Gen-AI) has created a new growth vertical. Fractal's investments in R&D and products like Asper.ai position it to capture demand from clients seeking to modernise their decision-making processes.
What Are The Strengths and Risks of Fractal Analytics IPO?
Strengths:
- Pure-Play AI: Unlike traditional IT firms, Fractal is specialized in AI and analytics, commanding higher value addition for clients.
- Client Retention: A strong Net Revenue Retention rate of 114% (as of Sept 2025) indicates deep relationships with Fortune 500 clients.
- Intellectual Property: A portfolio of 28 registered patents provides a competitive moat in the technology landscape.
Risks:
- Geographic Concentration: Approximately 65% of revenue is derived from the US market, exposing the company to North American economic cycles.
- Client Concentration: The top 10 clients contribute over 54% of revenue; the loss of a key account could impact financials materially.
- Volatility: The company has a history of fluctuating profitability, including a net loss in Fiscal 2024.
Key Considerations for Investors
This section is neutral and for informational purposes only.
- Valuation: At a P/E of roughly 67x, the issue commands a premium valuation, factoring in the "scarcity premium" of being the first AI pure-play listing in India.
- Use of Funds: The clear roadmap to debt reduction is a positive signal for balance sheet health.
- Human Capital: Investors should note the high employee costs (70% of income), which is typical for high-end tech firms but remains a margin pressure point.
Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. This article does not constitute a recommendation to buy or sell.
Key Takeaways
- IPO Price: ₹857 – ₹900 per share.
- Lot Size: 16 Shares (Minimum Investment: ₹14,400).
- Allotment Date: February 12, 2026.
- Listing Date: February 16, 2026.
FAQs on Fractal Analytics IPO
What is Fractal Analytics IPO GMP today?
For GMP of this and all other IPOs, check our IPO gmp today hub page which is updated regularly.
What is Fractal Analytics IPO price band?
The price band is fixed at ₹857 to ₹900 per equity share.
What is Fractal Analytics IPO allotment date?
The allotment status is expected to be finalized on Thursday, February 12, 2026.
How to check Fractal Analytics IPO allotment status?
Investors can check the status on the website of MUFG Intime India Pvt. Ltd. or via the BSE/NSE IPO allotment portals.
What is Fractal Analytics IPO listing date?
The shares are tentatively scheduled to list on Monday, February 16, 2026.
Investment Perspective on Fractal Analytics IPO
Fractal Analytics offers a unique opportunity to invest in the booming AI sector. While the company boasts impressive client metrics and IP, investors must weigh the premium valuation against the risks of client concentration and past earnings volatility.
